IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwpga/0311001.html
   My bibliography  Save this paper

Stable Outcomes For Contract Choice Problems

Author

Listed:
  • Somdeb Lahiri

Abstract

In this paper, we consider the problem of choosing a set of multi-party contracts, where each coalition of agents has a non-empty finite set of feasible contracts to choose from. We call such problems, cntract choic problems. We provide conditions under which a contract choice problem has a non-empty set of "stable" outcomes. There are two types of stability concepts we study in this paper:cooperative stability and non- cooperative stability. The cooperative stability concept that we invoke here is the core. We also show, that a simple generalization of the Deferred Acceptance Procedure with men proposing due to Gale and Shapley(1962), yeilds outcomes for a generalized marriage problem, which necessarily belong to the core. The non-cooperative stability concept that we study here is individual stability. The final result of this paper states that every contract choice problem has a non-empty weak bargaining st.

Suggested Citation

  • Somdeb Lahiri, 2003. "Stable Outcomes For Contract Choice Problems," Game Theory and Information 0311001, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpga:0311001
    Note: Type of Document - pdf; prepared on Win98; to print on hp Laserjet 2300d; pages: 17; figures: 0. 17 pages,pdf
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/game/papers/0311/0311001.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Chung, Kim-Sau, 2000. "On the Existence of Stable Roommate Matchings," Games and Economic Behavior, Elsevier, vol. 33(2), pages 206-230, November.
    2. Klijn, Flip & Masso, Jordi, 2003. "Weak stability and a bargaining set for the marriage model," Games and Economic Behavior, Elsevier, vol. 42(1), pages 91-100, January.
    3. Alkan, Ahmet, 1988. "Nonexistence of stable threesome matchings," Mathematical Social Sciences, Elsevier, vol. 16(2), pages 207-209, October.
    4. Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October.
    5. Sotomayor, Marilda, 1996. "A Non-constructive Elementary Proof of the Existence of Stable Marriages," Games and Economic Behavior, Elsevier, vol. 13(1), pages 135-137, March.
    6. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
    7. Diamantoudi, Effrosyni & Miyagawa, Eiichi & Xue, Licun, 2004. "Random paths to stability in the roommate problem," Games and Economic Behavior, Elsevier, vol. 48(1), pages 18-28, July.
    8. Bogomolnaia, Anna & Jackson, Matthew O., 2002. "The Stability of Hedonic Coalition Structures," Games and Economic Behavior, Elsevier, vol. 38(2), pages 201-230, February.
    9. Tayfun Sönmez & Suryapratim Banerjee & Hideo Konishi, 2001. "Core in a simple coalition formation game," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(1), pages 135-153.
    10. Somdeb Lahiri, 2003. "Stable Matchings for a Generalised Marriage Problem," Working Papers 2003.117, Fondazione Eni Enrico Mattei.
    11. Roth, Alvin E. & Postlewaite, Andrew, 1977. "Weak versus strong domination in a market with indivisible goods," Journal of Mathematical Economics, Elsevier, vol. 4(2), pages 131-137, August.
    12. Mas-Colell, Andreu, 1989. "An equivalence theorem for a bargaining set," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 129-139, April.
    13. Somdeb Lahiri, 2004. "The Cooperative Theory of Two Sided Matching Problems: A Re-examination of Some Results," Working Papers 2004.109, Fondazione Eni Enrico Mattei.
    14. Zhou Lin, 1994. "A New Bargaining Set of an N-Person Game and Endogenous Coalition Formation," Games and Economic Behavior, Elsevier, vol. 6(3), pages 512-526, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lahiri, Somdeb, 2007. "A weak bargaining set for contract choice problems," Research in Economics, Elsevier, vol. 61(4), pages 185-190, December.

    More about this item

    Keywords

    stable outcomes; core; individual stability; weak bargaining set; contract choice problem; matching;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpga:0311001. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA). General contact details of provider: https://econwpa.ub.uni-muenchen.de .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.